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Thursday, December 21, 2006

Soft GDP Report: A Trend or Anomoly?

The market is trading slightly higher in early trading. Q3 GDP was revised slightly lower, to 2.0% from 2.2%, but it doesn't seem to be too worrisome. The question is whether this marks the low for economic growth, and whether we see a pickup from here.

Oil is also trading lower ($63.30), while the yield on the 10-year is steady at 4.59%.

The bears in the AAII sentiment survey outnumbered bulls again this week, making it 4 out of 5 weeks we have seen that. This is a remarkable showing of bearishness considering the DJIA is making all-time highs and the SPX is making new yearly highs each week as well.

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About Me

Jordan Kahn, CFA is the Chief Investment Officer of KAM Advisors, in Beverly Hills, CA.
He is a frequent market commentator for numerous investment publications, and has appeared on CNBC and KNBC-Los Angeles. He is a regular columnist for RealMoney.com and has also been featured in TheStreet.com, Street Insight, Technology Investor, and Barron’s.